Singapore to send delegation of 11 startups to TiEcon 2017 to strengthen ties with Silicon Valley

Key leaders from MAS and SGInnovate will also join the delegation

TiE Singapore is sending a delegation consisting of 11 startups and key players in the local ecosystem to attend this year’s TiEcon in Silicon Valley.

For the uninitiated, TiE or The Indus Entrepreneurs (the founders came from South Asia, hence the name) is a pioneering entrepreneurial organisation that began in 1992 with the aim of helping entrepreneurs build their companies.

Since then, it has grown to 61 chapters in 18 countries across five continents, and claims a membership base of over 12,000.

The Singapore delegation, TiE Singapore, led by Puneet Pushkarna, TiE Chairman and General Partner of Solmark Ventures, will aim to strengthen ties between Singapore startups and the Silicon Valley ecosystem. The 11 startups span across a range of verticals including data analytics, fintech, and sustainability. They are:

Advanced Ophthalmic Innovations (AOI) aims to tackle the world’s second leading cause of blindness Glaucoma — a condition that damages the eye’s nerve through a build-up of pressure in the eye — using a glaucoma drainage device that regulates intraocular pressure in the patient’s eye.

PolicyPal is an insurtech statup. Its app uses a dashboard to display existing insurance coverage, payment and renewal dates. Consumers will also be able to check outstanding insurance payment amounts, as well as policy expiry and payment dates.

O2O’s product Kristal is an AI-powered online asset management tool that allow traders to broadcast their money management skills and investors to match with traders that best suit their investment objectives

Hearti Lab is a HR management platform that allows HR managers to manage employee processes such as timesheets, payroll and claims, employee benefits, and health insurance programmes. It also provides a chat messenger and a mobile app to engage with employees.

Selection process

These startups will be selected based on these four factors: innovativeness; utility (solving a real problem); global applicability (especially in the US; and ability to be value accretive. They will receive pitch training and business mentoring in Singapore before they exhibit at the conference.

Additionally, since TiEcon is supported under IE Singapore’s iMAP (International Marketing Activities Programme) — which is designed to help SMEs and start-ups gain market access through participation in international trade fairs and missions — these startups will have up to 70 per cent of their core expenses paid for.

At the conference, the 11 startups will not only be exhibiting but will also undergo a boot camp with accomplished Silicon Valley mentors and entrepreneurs in a small-group setting. Selected startups will also have the opportunity to present to a panel of investors.

Joining the 11 startups will be key movers in Singapore’s ecosystem. They include Sopnendu Mohanty, Chief Fintech Officer of the Monetary Authority of Singapore (MAS), Roy Teo, Director, Fintech & Innovation Group of MAS and Steve Leonard, Founding CEO, SGInnovate. These delegates will be speaking at the conference.